FW Rule Number	UCITS Rules Rule and Documentation Link	Atlas Video	Breach Resolution PPT	Quick Hint to Resolve Erroneous Breaches / Data Issues	Relevant Data Governance Check
UCITS01	No acting as guarantor
	No granting loans
	UCITS 0.0 No Ineligible Assets for UCITS
	UCITS 01.1: No precious metals
	UCITS 01.2: No certificates representing precious metals
	UCITS 01.4: No commodities
	UCITS 01.5: No Physical Short Selling
UCITS02	UCITS 02.1: Securities must be transferable securities			If a standard type of security that should be automatically defaulted as Transferable, this should be updated for in the RCA by the client’s projects team. RCA. Is transferable Otherwise, for manually considered complex instruments, this needs ….[added to white list??]
UCITS02b	UCITS 04.1: MMI must be approved MMI
UCITS 03.1	UCITS 03.1: Closed end funds must be regulated
UCITS 03.2	UCITS 03.2: Closed end funds must have segregation of assets
UCITS 03.3	UCITS 03.3: Closed end funds must have appropriate governance mechanisms
UCITS03	UCITS 05.1: CIS invested into which are not UCITS must be equivalent to UCITS			If the fund invested into is a UCITS fund or is equivalent toa UCITS fund this must be marked as such in the security master.
UCITS04	UCITS 05.2: CIS invested into must invest max. 10% of their NAV in other CIS			If this requirement is met, then update in equity master, field. Custom Attribute. Max investment in other CIS.
UCITS05	UCITS 06.1: Deposits must have a maturity of less than 12 months or be repayable upon demand
UCITS06	UCITS 06.2: Deposits must be made with acceptable credit institutions			If the deposit is with a deposit taker that is an approved credit institution, then update the deposit taker in the company master. Field Is. Approved Deposit Taker = True.
UCITS07	UCITS 07.1: Derivatives must have eligible underlyings
UCITS08	UCITS 07.2: OTC derivatives must be with acceptable counterparties			If the counterparty is a valid counterparty, this needs reflected in the Company Master, as either a 5% or 10% counterparty.
UCITS09	UCITS 07.3: OTC derivatives must be capable of reliable valuation			If a standard type of derivative that is capable of valn, this should be updated for in the RCA by the client’s projects team. Otherwise, for manually considered complex instruments, this needs marked in derivative master that it has reliable valuation, if agreed by client.
UCITS10 - 15	UCITS 10 - 15 Cover all: Max 10% of the issued capital of any one security			If result is showing a massive percentage, e.g. 100000%, then this is because the issued capital data is missing and needs manually researched.
UCITS12	UCITS 10: At Manager level, Max 20% of the Voting Shares issued by any one issuer
UCITS13Scheme	UCITS 11a: At Portfolio level, Max 10% of the non-voting shares issued by any one issuer (excl. GOPS)
UCITS13Umbrella	UCITS 11b: At Umbrella Level, Max 10% of the non-voting shares issued by any one issuer (excl. GOPS)
UCITS14Scheme	UCITS 12a: At Portfolio level, Max 10% of the Debt Securities issued by any one issuer (excl. GOPS)			Government bonds should not be included. If breaching issuer is a Government or Pubic Issuer, this needs update in the Company Master, field “Is GOPS”
UCITS14Umbrella	UCITS 12b: At Umbrella level, Max 10% of the Debt Securities issued by any one issuer (excl. GOPS)
UCITS14Scheme	UCITS 13a: At Portfolio level: Max 10% of the MMI issued by any one issuer (excl. GOPS)
UCITS14Umbrella	UCITS 13b: At Umbrella level: Max 10% of the MMI issued by any one issuer (excl. GOPS)
UCITS14Umbrella	UCITS 14: Umbrella - 10% max. in Debt Securities issued by a Single Issuing Body
UCITS15	UCITS 14a: At Portfolio level, Max 25% of the units in issue of any one CIS (portfollio), except for the Master
UCITS15	UCITS 14b: At Umbrella level, Max 25% NAV of the units in issue of any one CIS (portfolio), except for Master (excl. GOPS)
UCITS15	UCITS 15: Umbrella to scheme - 25% max. in the units in issue of any single CIS
UCITS15	UCITS 15: Feeders Scheme - 25% max. in the units in issue of any single CIS, except for Master
UCITS10	UCITS 15a: Max 10% NAV in Transferable Securities and approved MMI not on eligible market
UCITS11	UCITS 15b Max 10% NAV in Securities to be listed within one year, excl. 144A securities
UCITS 16Issuer	UCITS 16a Issuer: Max 10% NAV in Securities & MMI issued by the same Issuer			Government bonds should not be included. If breaching issuer is a Government or Pubic Issuer, this needs update in the Company Master, field “Is GOPS”
UCITS 16IssuerGroup	UCITS 16b Issuer Group: Max 10% NAV in Securities & MMI issued by the same Issuer Group
UCITS16v2	UCITS 39: Index Tracking Funds: Max 20% NAV in Securities & MMI issued by the same Issuer Group, except exceptionally 35% for one issuer
UCITS16v2	UCITS 40: Index Tracking Funds: Exceptionally, Greater than 20% NAV in Securities & MMI issued by the same Issuer Group, for one issuer only
UCITS16v2	UCITS 41: Index Tracking Funds: Exceptionally, Max 35% NAV in Securities & MMI issued by the same Issuer Group, for one issuer only
UCITS16v2	UCITS 41: Index Tracking Funds: Exceptionally, Max 35% NAV in Securities & MMI issued by the same Issuer Group, for one issuer only
UCITS 17Issuer	UCITS 17 Issuer: Max 40% NAV in Securities & MMI where the exposure to the UL issuer is greater than 5% NAV			Index derivatives should not be being included. If included, …..
UCITS 17IssuerGroup	UCITS 17 Issuer Group: Max 40% NAV in Securities & MMI where the exposure to the UL issuer Group is greater than 5% NAV
UCITS19b	UCITS 18 Max 100% NAV Exposure to any one GOPS Issuer
UCITS18	UCITS 19: Max 35% NAV in the Securities of any one GOPS Issuer, unless the Issuer is a 100% GAPS Issuer			If prospectus permits greater than 35% investment in the GOPS issuer, then this needs reflected in the scheme mandate.
UCITS20	UCITS 20ALT: If GOPS Issuer holding is >35%, minimum 6 GOPS issues held of that issuer group
UCITS20ALT	UCITS 21: If GOPS Issuer holding is >35% NAV, minimum 6 GOPS issues held of any GOPS issuer
UCITS21	UCITS 22: Max 25% NAV in Covered Bonds of any one Issuer
UCITS22	UCITS 23: Max 80% NAV in Covered Bonds in which more than 5% is Invested in any one Issuer Issuer
UCITS23	UCITS 24: Max 20% NAV in Deposits with any one Credit Institution
UCITS24Lux	UCITS 25 Lux: Lux: A UCITS may hold ancillary liquid assets (Lux market practice - Max 49% NAV)
UCITS24	UCITS 25: A UCITS may hold ancillary liquid assets (internal limit - max 10% NAV)
UCITS25	UCITS 26: Max 20% NAV in any one CIS, other than the Master Fund
UCITS25v2	UCITS 25 v2: Feeder - 20% max in any single CIS other than the Master Fund
UCITS26	UCITS 27: Max 30% NAV in aggregate in CIS which are not UCITS
UCITS27CoverAll	UCITS 28 Cover All: Warning: Max 5% NAV in aggregate in OTC Derivatives with any one Counterparty Group
UCITS27a	UCITS 28a: Max 5% NAV in aggregate in OTC Derivatives with any one Eligible Counterparties, other than a Credit Institution			If the counterparty is a valid counterparty, this needs reflected in the Company Master, as either a 5% or 10% counterparty.
UCITS27b	UCITS 28b: Max 10% NAV in aggregate in OTC Derivatives with any one Eligible Counterparties, which is a Credit Institution			If the counterparty is a valid counterparty, this needs reflected in the Company Master, as either a 5% or 10% counterparty.
UCITS33	UCITS 29: Consolidated Exposure to any one Issuer Group (excl. Covered bonds & GAPS) must be less than 20% NAV
UCITS33b	UCITS 30: Consolidated Exposure to any one Issuer Group (incl. Covered bonds but excl. GAPS) must be less than 35% NAV			Government bonds should not be included. If they are included in a breach, update the Company Master, field is GOPS. Index derivatives should not be being included. If included, …..
UCITS28	UCITS 31: UCITS Global Exposure - Max 100% NAV
UCITS28	UCITS 31: UCITS Global Exposure - Portfolio total exposure 200% NAV
UCITS32v1	UCITS 32 v1: 10% max. in negative cash (no netting)
UCITS32v2	UCITS 32 v2: 10% max. in negative cash (with netting at currency level)
UCITS32v3	UCITS 32 v3: 10% max. in negative cash (full netting)
UCITS29	UCITS 32.1: Liquid Cover for Derivative Obligations
UCITS30	UCITS 32.2: Specific Cover for Derivatives Obligations
	UCITS 33: Borrowings - Max 10% NAV in Borrowings
UCITS37	UCITS 34.1: Borrowings must be temporary - 90 days continuous
UCITS37	UCITS 34.2: Borrowings must be temporary - 90 days in 180
UCITS34	UCITS 35: No investment in CIS of the same Umbrella
UCITS34	UCITS 36: No investment in another sub-fund of the same Manager, unless permitted in prospectus
Feeder01	UCITS 37: Feeder Funds: Minimum 85% NAV in the Master Fund
	UCITS 38: Feeder Funds - No derivatives other than for hedging
	UCITS Feeder fund - no holdings other than Master, cash and derivatives
	UCITS FOF must not invest in a Feeder fund
	UCITS FOF must not invest in a Fund of Fund